Analyst Rating Update on ICICI Bank Limited (IBN)

ICICI Bank Limited (IBN) : 2 analysts are covering ICICI Bank Limited (IBN) and their average rating on the stock is 1, which is read as a Strong Buy. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels.

For this week, the average consensus of the company shares are rated as a Strong Buy. Also, Equity Analysts at the Goldman Sachs downgrades the rating on ICICI Bank Limited (NYSE:IBN). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Buy. The rating by the firm was issued on May 3, 2016.


ICICI Bank Limited (NYSE:IBN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.20 and $7.13 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.30. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.30, notching a gain of 1.25% for the day. The total traded volume was 11,511,745 . The stock had closed at $7.21 on the previous day.

ICICI Bank Limited is a banking company. The Bank is a financial services group providing a range of banking and financial services including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services. Its operating segments include Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance and Others. Retail banking includes exposures of the Bank, which satisfy the criteria of orientation, product, granularity and low value of individual exposures for retail exposures laid down in Basel Committee on Banking Supervision document International Convergence of Capital Measurement and Capital Standards: A Revised Framework. Wholesale banking includes all advances of the Bank to trusts, partnership firms, companies and statutory bodies. Treasury includes the entire investment and derivative portfolio of the Bank.

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